I think that’s the model that’s been applied. And really, at the heart of this is making sure we’re extracting full value from the high net worth density that we enjoy in the EMEA businesses where we are. So I feel pretty good about that. Now looking ahead, I’d expect Linde overall to continue down the path of giving you between 20 to 50 basis points of margin expansion every year as the task we hold ourselves to, and I think EMEA just because it gets to that 30% doesn’t mean we ‘ll be — waive that. I think they will work — all the actions necessary to ensure that they actually deliver as part of that 30 to 50 basis points improvement that we look for every year.
Operator: And we will take our next question from Geoff Haire with UBS. Your line is open.
Geoff Haire: Good afternoon. Perhaps, good morning, I should say. Thank you for the presentation. Matt, I had a quick question for you. I think at the end of your prepared remarks, you mentioned that you were taking actions to potentially lift the top end of the EPS guidance range for this year. I was wondering if you’d like to give some details on what those actions are, if I understood it right?
Matt White: Yes. Sure, Geoff. As Sanjiv had mentioned in his remarks, the economic environment is challenging. I think we can all agree on that. And given that, we have to get ahead of it. We have to do things, especially in those geographies, most affected. It was discussed earlier, things like we’re doing in China, but we are taking certain actions on the cost to tighten up discretionary spend where we can be very focused on headcount additions. And it’s to not only get ahead of a situation, but ideally prevent any further need for more severe actions if we can get early on this. We’ve done very similar approaches when we were, frankly, heading into 2020. We’ve done this into 2022. We’ve done this back when you look in prior years as well when we start to see slowing conditions.
So we’re taking a significant global efforts across discretionary spend, headcount, actions such as that to essentially tighten down and be prepared for what will happen because while we don’t know what will happen, it’s better to prepare for the worst and hope for the best, and that’s how we need to go about them on this.
Operator: And we’ll take our next question from Vincent Andrews with Morgan Stanley. Your line is open.
Vincent Andrews: Thank you, and good morning, everyone. Matt, did you mention before the margin impact in the Americas from the power issues?
Matt White: We did not give a specific number. But consistent with what we’ve had in prior power spike situations, of which you probably know you had in the United States, we tend to take an unfavorable impact to merchant and package margins in the quarter it occurs, and then we recover in the following 1 to 2 quarters. And we fully expect the same situation will happen again here as we saw a pretty severe power spike, especially in the southern part of the United States.
Vincent Andrews: Maybe I could just ask it this way. Would America’s margins have been higher than EMEA margins without the power spike?
Matt White: They would have had a free handle.
Operator: And we will take our next question from Kevin McCarthy with Vertical Research Partners. Your line is open.
Kevin McCarthy: Yes. Good morning. Sanjiv, would you provide your latest thoughts on the helium market, both fundamentally in terms of operations or lack thereof at your competitor in Russia? As well as the upcoming U.S. helium auction of reserves and related assets, would you expect that to have any material impact on that market moving forward?
